Industrial

TA Realty Acquires 350,000 SF East Belt Business Park in Southeast Houston

by Taylor Williams February 25, 2020

HOUSTON — Boston-based TA Realty has acquired East Belt Business Park, a 350,000-square-foot industrial development situated on 23.7 acres in southeast Houston. The property consists of two rear-load and two cross-dock buildings that include 20- to 24-foot clear heights, 114 dock-high doors, 120- to 180-foot truck court depths and 510 parking spaces. Trent Agnew, Rusty Tamlyn, Charlie Strauss and Tom Weber of JLL represented the seller, a fund advised by Morgan Stanley Real Estate Investing, in the transaction.

February 25, 2020

Acquisitions Colorado Industrial Mixed-Use Multifamily Self-Storage Western

Denver Realty Group Acquires 25-Property Portfolio in Colorado Springs for $22M

by Amy Works February 25, 2020

COLORADO SPRINGS, COLO. — Denver Realty Group, through its DRGinvest platform, has purchased a 25-property portfolio in Colorado Springs for $22 million. The portfolio totals 186 units and includes multifamily, single-family homes and a storage facility. The off-market deal was acquired using a unique, deal-specific loan arranged by NorthMarq’s Denver office and placed with ArrowMark Commercial Real Estate Partners and Arbor Realty SR as lenders. DRG was represented by Zach Hansen of Denver Realty Group and Stuart Sloat of Olive Realty Estate Group as transaction brokers.

February 25, 2020

Industrial Leasing Activity Texas

Jackson-Shaw Signs Two Industrial Leases Totaling 124,537 SF at Parc NorthEast in Richardson

by Taylor Williams February 25, 2020

RICHARDSON, TEXAS — Locally based developer Jackson-Shaw has signed two new tenants at Parc NorthEast, a 434,640-square-foot industrial development in the northeastern Dallas suburb of Richardson. Mygrant Glass, a family-owned auto glass wholesaler, has leased 93,079 square feet at Building 4, and garage door provider Section Stack has leased 31,458 square feet at Building 2. Josh Barnes of Holt Lunsford Commercial represented Jackson-Shaw in the lease negotiations.

February 25, 2020

Acquisitions Industrial Northeast Pennsylvania

ROCK Commercial Brokers Sale of 215,344 SF Industrial Property in York, Pennsylvania

by Alex Patton February 25, 2020

YORK, PA. — ROCK Commercial Real Estate has brokered the sale of a 215,344-square-foot industrial property in York, located approximately 100 miles west of Philadelphia. Situated at 441 East Market St., the property was originally built in 1900. The buyer was Mark Lane LLC, a company that acquires aged buildings for the purpose of redeveloping them for storage space, artist studios and industrial uses. Ted Turnbull, Jason Turnbull, Damian Reed and Heather Kreiger of ROCK Commercial represented the seller, IWM International LLC, in the transaction. The team also represented Mark Lane LLC.

February 25, 2020

Industrial Leasing Activity Massachusetts Northeast

Omni Logistics Signs 115,822 SF Industrial Lease in Billerica, Massachusetts

by Alex Patton February 25, 2020

BILLERICA, MASS. — Third party logistics (3PL) company Omni Logistics has signed a 115,822-square-foot industrial lease in Billerica, located approximately 20 miles northwest of Boston. The space is situated within Billerica Commerce Center, a 612,685-square-foot facility located at 90 Salem Road. The property was built in 1982, renovated in 2007 and features 38-foot clear heights, 17 loading docks and convenient access to Interstate 495. David Corkery, Steve Clancy and Rachel Marks of CBRE represented Omni Logistics in the lease negotiations. The team also represented the landlord, New York City-based Clarion Partners.

February 25, 2020

Industrial Loans Office Oregon Western

Ready Capital Closes $7.7M Refinancing for Industrial, Office Portfolio in Portland, Oregon

by Amy Works February 25, 2020

PORTLAND, ORE. — Ready Capital has closed $7.7 million in financing for the recapitalization, renovation and lease-up of an industrial and office portfolio located in the Lloyd District submarket of Portland. The sponsor will use loan proceeds to recapitalize funds and repurpose the older industrial buildings into a combination of Class B creative office, commercial kitchen and industrial office space. Ready Capital closed the non-recourse, floating-rate loan that features a 36-month term, two extension options, flexible pre-payment and a facility to provide future funding for capital expenditures, tenant leasing costs and interest and carry shortfalls.

February 25, 2020

Development Illinois Industrial Midwest

Trammell Crow Breaks Ground on 1.6 MSF Industrial Development for Ferrara in DeKalb, Illinois

by Kristin Harlow February 25, 2020

DEKALB, ILL. — Trammell Crow Co. has begun development of a 1.2 million-square-foot distribution center and a 466,000-square foot packaging facility at ChicagoWest Business Center in DeKalb, about 70 miles west of Chicago. Ferrara Candy Co. will occupy the two buildings. The new development is expected to be fully operational in the second quarter of 2021. Ferrara expects to bring approximately 500 jobs to the city. The project team includes Krusinski Construction Co., Harris Architects Inc. and Jacob & Hefner Associates Inc. Joe Grimes of Trammell Crow will oversee the design and construction. Matt Mulvihill and Kevin Segerson of CBRE represented Ferrara in the negotiations.

February 25, 2020

Illinois Industrial Loans Midwest Office Ohio

NorthMarq Arranges $16.9M in Acquisition Financing for Two Flex Industrial Properties in Illinois, Ohio

by Kristin Harlow February 25, 2020

DES PLAINES, ILL. AND DUBLIN, OHIO — NorthMarq has arranged $16.9 million in acquisition financing for two flex industrial properties in Illinois and Ohio. Jeff Frankel of NorthMarq arranged both fixed-rate loans with Ready Capital Structured Finance. The first is a three-building property spanning 140,134 square feet in Des Plaines, a northwestern suburb of Chicago. The second is a three-building property totaling 124,929 square feet in Dublin, a northern suburb of Columbus. The Des Plaines property was 94 percent occupied at the time of acquisition, while the Dublin asset was 80 percent occupied.

February 25, 2020

Acquisitions Industrial Texas

CBRE Negotiates Sale of 213,370 SF Hanson Industrial Portfolio in El Paso

by Taylor Williams February 24, 2020

EL PASO, TEXAS — CBRE has negotiated the sale of the Hanson portfolio, a collection of three industrial buildings totaling 213,370 square feet in El Paso. The sale included 35 acres of developable land. Arturo De la Mora of CBRE represented the seller, private investor Russell Hanson, in the transaction. The buyer was a partnership between Massachusetts-based Equity Industrial Partners and New York City-based Raith Capital Partners.

February 24, 2020

Florida Industrial Leasing Activity Southeast

Cargill Signs 70,000 SF Industrial Lease in South Florida

by Alex Tostado February 24, 2020

HIALEAH, FLA. — Cargill has signed a 70,000-square-foot industrial lease within Building E in Beacon Logistics Park in Hialeah. The industrial park will span 1.3 million square feet upon completion. A joint venture between Codina Partners and USAA Real Estate is developing the 146,021-square-foot Building E, which features a non-shared truck court and a building depth of 160 feet with a 60-foot speed bay. The Minnesota-based meat and grain supplier is the first tenant to sign a lease within the property, which is situated at NW 145th Place and NW 107th Avenue, 23 miles northwest of downtown Miami. RLC Architects designed the industrial park, and Rycon Construction Inc. is the general contractor for Building E.

February 24, 2020

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